In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Pitchbook reported that while grocery tech companies fueled foodtech deals in Q2 2023, the total deal values for foodtech companies have decreased as median deal size declined for the first time in seven years.
- Kellogg’s business has officially split into two separate companies. WK Kellogg Co., Kellogg’s cereal business, and Kellanova, Kellogg’s snack business, started trading as two separate entities on the NYSE.
- J.M. Smucker (Smuckers brand) announced that it plans to sell its fruit and snacks business, Sahale Snacks, to Second Nature Brands for $34 million.
- Ten To One rum, a rum brand co-founded by Ciara, announced that it raised $1 million in funding.
CPG Corporate Venture and Private Equity Fund
This week's featured corporate venture and private equity fund is BRF S.A.
- BRF S.A., based in Brazil, is one of the largest global food companies. It has over 90,000 employees in more than 130 countries.
- With global performance, BRF builds brands considering the particularities of each market.
- BRF offers more than 3 thousand products with emphasis on flavor and quality.
- Some of the portfolio companies include:
- Claybom
- Banvit
- Deline
- Borella
- Qualy
- Sadia
- Bom Sabor
- Confidence
- Kidelli
Links to Relevant Content and Events
ARTICLES
- JM Smucker to sell Sahale Snacks to Brownie Brittle owner for $34 Million
- Blue Apron Acquired by Wonder Group
- Bytes to Bites Part Two – From Farm to Fork: Leveraging AI in the Food Supply Chain
- Hostel Pizzas to Stadium Slices: The Remarkable Growth of MOTO’s Robot-Powered Artisanal Pizza
- Fake Meat Looks for Revival After Boom Fizzles Out
UPCOMING EVENTS
Naturally Minnesota
Food, Ag, Ideas Week
Monday and Tuesday, October 9 & 10
Location: Minnesota History Center, West Kellogg Boulevard 345, Saint Paul
Food | Ag | Ideas, led by Naturally Minnesota and partners, is an annual multi-day series of speakers, events, tours, and demo showcases to highlight innovative ideas, make connections across the sectors, invite leaders to join Minnesota's entrepreneur and innovation ecosystem, and move our industry forward.
Naturally Minnesota
Celebrating Indigenous People's Day Through Food and Stories
Monday, October 9 | 5:00 – 8:00 p.m. CT
Location: Midtown Global Market, East Lake Street 920, Minneapolis
Join Naturally Minnesota for an evening of stories about the challenges of colonization of food, reclaiming food sovereignty, and spreading knowledge about traditional foods and practices from a panel of Indigenous food sovereignty leaders. This event is in partnership with NATIFS and the Consulate General of Canada in Minneapolis. Consul General Beth Richardson will give opening remarks. After the panel you will be able to enjoy the food the chefs created together, shop at the Indigenous Food Lab Market along with other Indigenous vendors that will be showcasing their crafts.
Naturally Minnesota
Crash the Networks Happy Hour + Awards Celebration
Tuesday, October 10 | 5:00 – 8:00 p.m. CT
Location: Amsterdam Bar & Hall, Wabasha Street North, Saint Paul
Close out Food, Ag, Ideas Week by joining Naturally Minnesota at Amsterdam Bar & Hall for our annual Crash the Networks Happy Hour. This is a chance to network with folks from across the ecosystem and forge deeper connections. Additionally, we will giving out our inaugural Naturally MN 5 P's of Progress Awards. These awards recognize companies and individuals who have demonstrated exemplary leadership in the 5 P's - People, Planet, Prosperity, Passion, and Purpose, and are nominated by the community.
Naturally New York
INNOVATION BY COLLABORATION: The Key Ingredients To Successful Product Development Partnerships
Tuesday, October 10 | 11:00 – 12:00 p.m. ET
New products and brands come to the market every day and what is often not spoken about are the many behind-the-scenes partners that enable products to launch. From marketing insight and product development to scaling into a manufacturing environment, there are many challenges that young brands face in the market where strong partners can help to enable success.
In this panel session, we will explore what best-in-class partnerships look like in the context of two very successful young brands. Moderated by Monica Watrous (FBN and Food Entrepreneur), we will discuss key insights together with Vanessa Pham (Omsom) and Matt Weiss (Rind Snacks) and two key partners, Robin Puskus (JPG Resources) and Evan Hyman (Kerry). This panel discussion will focus on what it takes to be successful in product development partnerships and how young brands can lean on partners to help them win in the market.
Speakers:
- Evan Hyman, Vice President at Kerry
- Vanessa Pham, Co-Founder/CEO of Omsom
- Robin Puskas, innovation and product development at JPG Resources
- Monica Watrous, Managing Editor, Food Business News and Food Entrepreneur at Sosland Publishing Company
- Matt Weiss, CEO of RIND Snacks
Naturally Boulder
“A Finer Future: Creating an Economy in Service of Life” Book Review
(Naturally Boulder members only)
Wednesday, October 11 | 4:00 – 5:00 p.m. MT
Location: Midtown Global Market, East Lake Street 920, Minneapolis
Naturally Boulder members can join the Sustainability Forum for an intimate book conversation with the renowned author and champion of sustainable development, Hunter Lovins, on her latest book A Finer Future: Creating an Economy in Service of Life. In addition to Hunter, Paloma Lopez and Sean Ansett will be joining the conversation. We encourage everyone attending this event to read the book in advance and come prepared with thoughts and questions for the discussion. This event is organized by our Naturally Boulder Sustainability Forum and is open to all Naturally Boulder members for free.
Speakers:
- Sean Ansett, President at At Stake Advisors
- Paloma Lopez, CEO of Future Fit Foods
- Hunter Lovins
Naturally New York
2023 EXPO EAST TRENDS & INSIGHTS PRESENTED BY AMPLA
Tuesday, October 12 | 1:00 – 2:00 p.m. ET
With Natural Products Expo East 2023 fresh in our minds, experts from across the CPG ecosystem will discuss the biggest trends and key learnings coming out of this year's event. From new product innovation to emerging technologies, we'll recap what we learned and what you'll need to be aware of as you grow your business this year.
Speakers:
- Jay Puentes, Director of Sales at Ampla
- Eric Schnell, Founder of BeyondBrands
- Heather K. Terry, CEO of GoodSam Foods
- Peetachai "Neil" Dejkraisak, CEO/Co-Founder of Jasberry
Naturally San Diego
FALL FLING!
Thursday, October 12 | 4:30 – 7:30 p.m. PT
Location: Coastal Roots Farm, San Diego, California
Join Naturally San Diego at the breathtaking Coastal Roots Farm in Encinitas for the ultimate Fall Fling. Rub shoulders with over 300 industry enthusiasts, leaders, and trendsetters - it's the perfect chance to network and make lasting connections.